13,792 companies closed in 8 months

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has announced the statistics for newly established and closed companies for the month of August.

Accordingly, 1,784 more companies closed in August 2023, bringing the total number of companies closed in the first 8 months of the year to 13,792.

Compared to the previous month, the number of closed companies decreased by 17.3 percent, the number of closed cooperatives by 15.7 percent, and the number of closed sole proprietorships by 41.6 percent.

When viewed on an annual basis, the decline in the number of closed companies was limited.

In August 2023, while the number of closed companies decreased by 0.2 percent and the number of closed sole proprietorships by 0.7 percent compared to the same month in 2022, the number of closed cooperatives increased by 5.6 percent.

In the first 8 months of 2023, compared to the first 8 months of 2022, the number of closed companies increased by 0.1 percent and the number of closed sole proprietorships by 21.2 percent, while the number of closed cooperatives decreased by 2.6 percent.

14 PERCENT ANNUAL DECLINE IN THE NUMBER OF NEWLY ESTABLISHED COMPANIES

While there was an increase in the number of newly established companies on a monthly basis, there was a decline on an annual basis.

According to TOBB data, compared to the previous month, the number of newly established companies increased by 12.6 percent, the number of newly established cooperatives by 20.9 percent, and the number of newly established sole proprietorships by 3.7 percent.

In August 2023, compared to August 2022, the number of newly established companies decreased by 13.9 percent and the number of newly established sole proprietorships by 39.7 percent, while the number of newly established cooperatives increased by 80.4 percent.

In the first 8 months of 2023, compared to the first 8 months of 2022, the number of newly established companies decreased by 3.5 percent and the number of newly established sole proprietorships by 19.5 percent, while the number of newly established cooperatives increased by 72.9 percent.

News Source: 12punto